The Inditex Group reported revenue of 11.94 billion euros in the first-half, representing growth of 49 percent year-on-year or 53 percent in local currencies. Net profit amounted to 1.27 billion euros compared with a loss of 195 million euros in the first half of 2020. The company’s second-quarter revenue grew 7 percent in local currencies to...
20 hours ago
Zara owner Inditex has announced an acceleration of a number of sustainability targets, including a new aim to achieve net-zero emissions by 2040, ten years earlier than previously planned. The fast fashion giant also aims for all the cotton it uses to be “more sustainable” by 2023, two years ahead of schedule, and for all energy in its direct...
14 Jul 2021
Despite bold pledges to create a more sustainable future, global fashion brands continue to rely on plastics by using synthetic fibres in their collections. According to a report by Changing Markets these fibres are fueling plastic waste and the climate crises due to the fossil fuels needed to make them. Rampant greenwashing 59 percent of claims...
9 Jul 2021
On the eve of China’s 100th year anniversary celebration of its Chinese Communist Party, France launched an investigation into the “concealment of crimes against humanity” by global textile giants, including Inditex and Uniqlo, who stand accused of having profited from the forced labour of Uighurs. France’s National Anti-Terrorism Prosecutor’s...
2 Jul 2021
Spanish fashion giant Inditex has reported soaring sales in the first quarter of the year as it swung to a profit. For the three months ended April 30, sales soared 50 percent to 4.9 billion euros compared to last year when the company was hit hard by global store closures amid the first wave of the pandemic. Compared to pre-Covid 2019 levels of...
9 Jun 2021
Spanish apparel giant Inditex, which owns Zara, Zara Home, Massimo Dutti, Bershka, and Pull & Bear, has ventured into the world of gaming. Via its youth brand Pull & Bear, the company has launched ‘Pacific Game’, an augmented reality (AR) game available on Facebook and Instagram. The game forms a part of Pull & Bear’s ‘Pacific girls’ collection,...
5 May 2021
On Thursday, China, backed by the Chinese government itself, started retaliating against the Western boycott of cotton produced in the ‘Uyghur labor camps’ of Xinjiang, calling for its own boycott against international fashion companies. The boycott primarily affected Swedish retail giant H&M on Thursday, but is now also being launched against...
26 Mar 2021
The annus horribilis for global retailers in the fashion industry is yet to end. Covid-19 has been an ongoing catalyst for transformation and at worst had a Darwinian effect, spurring an international reduction of physical shops. According to Modaes, Spain’s economic fashion news outlet, an estimate of closures from three large players including...
16 Mar 2021
Inditex Inditex has announced that the company generated net sales of 20.4 billion euros in FY20, a year dominated by the Covid-19 pandemic, while the company’s online sales registered growth of 77 percent in local currencies, to over 6.6 billion euros, with growth of over 100% during certain periods of the year. The group was able to reach a...
10 Mar 2021
The parent group of Uniqlo has unseated Inditex for the first time in history, rising to the title of the world’s largest retailer by market capitalization after closing the sessions on Monday and Tuesday, exceeding 100 billion dollars in value on the stock market. The value of Fast Retailing, the Japanese company that owns the fast fashion...
17 Feb 2021
Spanish fashion giant Inditex is reportedly set to close all its Bershka, Pull & Bear and Stradivarius stores in China. Bershka currently has 34 stores in mainland China, Pull & Bear has 37, and Stradivarius has 22. The stores could be closed as soon as January, WWD reports, citing anonymous sources. The three brands, which are all around the...
8 Jan 2021
Inditex generated a net profit of 671 million euros in the nine months of FY20 and 866 million euros in the third quarter, while Ebitda reached 1.85 billion euros in the quarter, down from 2.23 billion euros in the prior year. The company said in a statement that the sales trend continued to improve with sales declining by 14 percent or 10...
15 Dec 2020
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